MHESACMontana Higher Education Student Assistance Corporation
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The series 2003 bonds are the eighth issuance under the Ninth Supplemental Indenture dated October 1, 2003 to the Indenture of Trust dated August 1, 1993, between MHESAC and Wells Fargo Bank Minnesota, N.
The ratings for all the outstanding bonds are based on the quality of the Federal Family Education Loan Program (FFELP) student loan portfolios, the minimum 5% shared reserve fund, and the quality servicing provided by MHESAC.
MHESAC, a nonprofit organization under section 501(c)(3) of the Internal Revenue Code, was created on July 7, 1980, and designated by the governor of Montana as the sole and exclusive nonprofit corporation in the state to provide a student loan acquisition program and lend directly to student borrowers in connection with the guaranteed student loan program under the Higher Education Act of 1965.